Walmart's year-to-date decline now totals some 14 percent vs the S&P 500 Index's gain of 2.1 percent and competitor Kroger Co.'s decline of 7.6 percent.
Edinburgh Worldwide is the top-performing global smaller companies investment trust over the last three years, with the shares up 86%, while the Global Discovery fund has returned 55% over three years to the end of April, placing it third in its Citywire sector. Ocado Solutions CEO Luke Jensen is certainly intrigued by the opportunity at hand, noting that the "grocery online market in the USA has been relatively underdeveloped compared with some European markets".
Rodney McMullen, chairman and CEO of Kroger, said the retailer is on a mission to develop new customer experiences by investing in technology.
Some analysts and grocers have questioned how well the Ocado model is suited to the USA market given its much more disperse population compared to densely populated Britain.
Ocado is known for fast deliveries and, according to CNN Money, Ocado said it will be helping Kroger with warehouse operations, logistics, delivery route planning and automation.
The good news for OCDGF stock is that the company is now the exclusive grocery delivery service for Kroger in the U.S. As part of this agreement, KR is increasing its investment in the company by 5%.
The deal is the latest in a series of tie-ups announced by Ocado recently. It also says that it has already taken into account for the effect it will have for 2019 earnings with its Restock Kroger plan.More news: Trump on 'animals' comment: 'I'm referring to the MS-13 gangs'
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Tatton-Brown said the potential for the partnership goes far beyond the initial 20 centres, with scope for two or three times that in the future.
Shares in the group, which listed in 2010, jumped over 50 percent in early Thursday to trade at a record high.
Ocado chief executive officer Tim Steiner raked in about £34m from his 1.6pc stake. The average multiple for the United Kingdom grocery retail sector is 17.
"Amazon has indeed fuelled a US Ocado deal, ' said Peel Hunt analyst James Lockyer, who rates the shares a 'buy" and placed his target price under review.
Exposed hedge funds included GMT Capital, Hunt Lane Capital and London-based Marshall Wace.